During the 2024 General Session, the Utah Legislature allocated $4.5 million to the Governor's Office of Economic Opportunity to administer the Economic Assistance Grant (EAG) program. This grant is a one-time, project-based funding opportunity.

The EAG assists Utah businesses that promote and support economic opportunities in the state and provide a service related to industry, education, community development, or infrastructure.

For this grant, a business is defined as a for-profit or nonprofit entity. Government entities are not eligible to apply. To qualify for this grant, an applicant's principal place of business must be in Utah, and the applicant must be registered and in good standing with the Utah Division of Corporations and Commercial Code.

Based on the categories stated above, grant prioritization include:

Projects focused on the development of Utah’s five targeted industries: Advanced Manufacturing, Aerospace & Defense, Financial Services, Life Sciences & Healthcare, and Software & IT.

Grant Emphasis

Businesses with projects that:

• Develop one or more of Utah’s five targeted industries
• Identify clear metrics that will be used to measure success
• Demonstrate comprehensive planning of the project
• Leverage other funding sources and/or propose the use of matching funds
• Have sound organizational and project budgets
• Can be completed within 18 months, from award date

Funding Tiers

Funding tiers are set to encourage applications from businesses of all sizes, with project budgets and grant requests both small and large. 

Tiers for the EAG include:

• Tier 1 – For grant requests up to and including $50,000
• Tier 2 – For grant requests greater than $50,000, up to and including $100,000
• Tier 3 – For grant requests greater than $100,000, up to a maximum award of $200,000

Grant proposals in each tier will only compete with other proposals within the same tier. For example, a business requesting funding up to $50,000 (Tier 1) will not compete with a business requesting funding of more than $100,000 (Tier 3).

The EAG application portal will open at 9 a.m. on Aug. 1, 2024, and close at 5 p.m. MDT on Aug. 15, 2024.

If you’re new to the office grant programs, please complete the New Portal User Request to receive login credentials. This process takes about one business day.

If you already have login credentials, you can access the portal by clicking the Apply Now button once the grant opens.

For questions regarding this funding opportunity, email econgrants@utah.gov and include “Economic Assistance Grant” or “EAG” in the subject line.